Regal Rexnord announced the appointment of Mark Klossner as Executive Vice President and President of its Industrial Powertrain Solutions (IPS) segment, effective immediately. He succeeds Jerry Morton, who plans to retire after an 11-year tenure with the company and a 39-year career in the power transmission industry.
Morton has led the Industrial Powertrain Solutions segment since 2023 and will continue serving as Executive Vice President until his retirement on December 31, 2026, to support a smooth leadership transition.
Klossner’s promotion follows the company’s internal succession planning process overseen by the board of directors. He joined Regal Rexnord through the acquisition of Altra Industrial Motion in March 2023, initially serving as Senior Vice President and General Manager of the Couplings Division. In June 2024, he was promoted to Group President of the Couplings and Gearing divisions, overseeing an approximately $1.4 billion portfolio comprising five business units.
Before joining Regal Rexnord, Klossner spent 19 years with Altra Motion, including six years as President of the Gearing Division and seven years as President of the Couplings Division. He holds an MBA from Northwestern University’s Kellogg School of Management, a Master of Engineering Management degree from Northwestern University’s McCormick School of Engineering, and a bachelor’s degree in Materials Science and Engineering from Cornell University.
Regal Rexnord employs approximately 30,000 associates globally and operates through three business segments: Automation & Motion Control, Industrial Powertrain Solutions, and Power Efficiency Solutions. The Milwaukee-based company serves a range of end markets, including factory automation, aerospace and defense, medical, data centers, energy, and industrial applications.
KEY QUOTES:
“Mark brings a powerful combination of operational rigor, strategic vision, and deep product and industry expertise to this role. Over the past several years, he has demonstrated exceptional leadership, driving growth across our couplings and gearing businesses. I am confident Mark will continue to build on that momentum and lead the Industrial Powertrain Solutions segment into its next phase of profitable growth.”
Louis Pinkham, CEO, Regal Rexnord
“I am honored to step into this role and excited about the opportunity ahead. Industrial Powertrain Solutions has a strong foundation, including unrivaled product and go-to-market scale and scope in the markets it serves. I look forward to working with our talented teams around the world to serve our customers and accelerate profitable growth.”
Mark Klossner, Executive Vice President & President, Industrial Powertrain Solutions, Regal Rexnord
“On behalf of the entire Regal Rexnord team, I want to thank Jerry for his decades of leadership, commitment, and impact. He has played a critical role in positioning our company for long-term success, and his influence will be felt for years to come. We wish Jerry and his family the very best in his retirement.”
Louis Pinkham, CEO, Regal Rexnord
